Innovation Pharmaceuticals Inc (IPIX)

[Phoenix300]

Upcoming Update on Brilacidin in COVID-19
Dear IPIX Shareholders,
The Company will be providing shortly an update based on further data analysis of the Brilacidin Phase 2 COVID-19 study results and compassionate use of Brilacidin in critically-ill hospitalized COVID-19 cases.

While topline results showed Brilacidin did not meet the trial’s primary endpoint, as previously announced, these findings are helping to inform potential paths forward for Brilacidin antiviral applications.

Collaborative work with NIH and other researchers on Brilacidin’s broad-spectrum antiviral properties is ongoing and generating promising data, with future updates planned.

Finally, we plan to provide more information on the Company’s strategic direction, as we look to advance Brilacidin in multiple areas and evaluate additional opportunities.